Tax

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Germany: Outlook for the M&A market 2020
taxand.com Jan 16, 2020
After a slowdown in the previous year, an interesting M&A market is emerging for the next few years, 2019 was a mixed year for M&A transactions. Even if the numerous studies that appear regularly on the subject never present a uniform picture,...
Maryland lawmakers propose tax on digital advertising revenue
mnetax.com Jan 16, 2020
Maryland legislators on January 8 introduced a bill proposing a new tax on the revenue of large companies that advertise to individuals located in Maryland through a website or other digital interface. If the Maryland bill passes, the tax would be...
Dutch government adds two countries, removes four in 2020 update to low-tax jurisdiction list
mnetax.com Jan 15, 2020
The Dutch government, on December 18, published its annual list of low-tax jurisdictions, following several draft versions. The 2020 update to the Dutch list removes four countries that were included on the 2019 low-tax jurisdiction list and adds...
IBOR reform: why transfer pricing professionals need to start paying attention
mnetax.com Jan 15, 2020
The discontinuance of the Interbank Offered Rate (IBOR), scheduled for the end of 2021, will not only be a revolution for finance experts, it will also have significant implications for transfer pricing professionals. The pricing of intercompany...
Colombia sets transfer pricing documentation requirements and filing deadlines
mnetax.com Jan 13, 2020
The Colombian government on December 23  published Decree 2345, setting out the deadlines for companies that have residence in Colombia to file a transfer pricing disclosure form and local file. Taxpayers must file between July 7 and July 21. The...
Panama tax authority updates country-by-country reporting filing deadlines, notification requirements
mnetax.com Jan 13, 2020
On December 27, Panamas tax authority issued an extension to multinational taxpayers that must file the country-by-country report and its notification. The extended due date for the filing is due January 31, 2020, for fiscal years ending 2018....
Italy adopts digital services tax, notional interest deduction
mnetax.com Jan 8, 2020
Italys 2020 budget law, which includes several tax provisions of interest to multinational enterprises investing in Italy, was published in the Official Gazette, N. 160 of 2019 and now has legal effect. From 1 January, a digital services tax,...
Draft German tax law has big implications for transfer pricing
mnetax.com Jan 7, 2020
Germanys Ministry of Finance has introduced a draft law that would have a substantial impact on day-to-day transfer pricing in Germany. The draft law, released 10 December 2019, amounts to over 100 pages and has already received detailed and...
US IRS updates guidance on obtaining private tax rulings
mnetax.com Jan 6, 2020
The US IRS on January 2 issued revenue rulings outlining procedures for taxpayers that seek to obtain obtaining private letter rulings and technical advice memorandum covering tax issues, including international tax issues. Rev. Proc. 2020-1...
Isle of Man updates guidance on tax residence
mnetax.com Jan 6, 2020
The Isle of Mans Treaty Income Tax Division on January 2 published a practice note addressing how it determines the tax residence of companies and other corporate taxpayers. The Isle of Man applies a combination of both the place of incorporation...
Philippines close to tax treaty with Cambodia, negotiating treaty with Ireland
mnetax.com Jan 6, 2020
The Philippines Department of Finance today announced that it may soon reach an agreement with Cambodia on the text of a tax treaty. Substantial progress was made during the second round of negotiations, the Department of Finance reported. The...
New Cote DIvoire law clarifies country-by-country reporting, requires greater tax transparency
mnetax.com Jan 6, 2020
A Côte dIvoire law clarifying country-by-country reporting for multinational groups and addressing tax evasion through international investment was published in the official gazette December 27, 2019, and is now set to enter into force this month....
Spain poised to enact digital services tax despite US threats of retaliation
mnetax.com Jan 3, 2020
Spain is on track to enact a digital services tax on the revenue of large multinationals despite threats from the US to introduce tariffs of up to 100% on Spanish goods. On December 27, Spain´s Council of Ministers approved the extension of the...
OECD publishes updated country-by-country reporting guidance, notification requirements
mnetax.com Dec 30, 2019
The OECD on December 23 released additional interpretative guidance on country-by-country reporting. The guidance was approved by a coalition of 130+ countries known as the Inclusive Framework on BEPS. The update to the guidance clarifies that...
2020 Dutch Tax Plan passes: relevance for multinational enterprises
mnetax.com Dec 30, 2019
On December 27, the Dutch 2020 tax plan became law with its publication in the Dutch Gazette. The new law includes significant modifications to the taxation of multinational enterprises operating in the Netherlands. The Dutch tax plan was presented...
Turkey enacts 7.5 percent digital service tax
mnetax.com Dec 23, 2019
Turkey has enacted its digital service tax, together with an accommodation tax, luxury residence tax and other important tax amendments under law No. 7194, published on the Official Gazette dated December 7. To be subject to Turkeys digital...
Japan, Uzbekistan tax treaty signed
mnetax.com Dec 23, 2019
Japans Ministry of Finance has announced that the governments of Japan and Uzbekistan signed a new tax treaty on December 19. The treaty lowers withholding taxes on dividends to 5 percent if paid to certain related parties and to 10 percent in...
Hong Kong extends local entity country-by-country filing deadline
mnetax.com Dec 23, 2019
Hong Kongs Inland Revenue Department on December 19 announced an extension to the due date for local filing of some country-by-country tax reports. In cases where a local filing entitys first relevant accounting period for a country-by-country...
Jordan signs BEPS MLI tax agreement to fight tax avoidance
mnetax.com Dec 23, 2019
Jordan is the 93rd country to sign the BEPS MLI, which is designed to help countries swiftly add to their existing bilateral tax treaties provisions developed in the 2015 OECD/G20 base erosion profit shifting (BEPS) project. These tax treaty...
Multilateral tax treaty to enter into force for Liechtenstein
mnetax.com Dec 23, 2019
Liechtenstein, on December 19, deposited its instrument of acceptance of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting  (BEPS MLI), the OECD has announced. The BEPS MLI will enter...
Shell publishes country-by-country tax report
mnetax.com Dec 23, 2019
Oil giant Royal Dutch Shell on December 17 published its country-by-country report data for 2018 on the internet, providing information on items such as corporate taxes paid and revenue earned in 98 countries where the company has a taxable...
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